| Senior-housing developer to sell 26 of its properties
Merrill Gardens, the Seattle-based company that has become one of the nation's largest developers of senior housing, said Friday that it will sell 26 of its retirement communities for $346 million. The company said that it wants to concentrate its portfolio on the West Coast and will be using the money from the sale to open new properties. Chartwell Seniors Housing, a Mississauga, Ontario-based real estate investment trust, will buy the properties, which are in Alabama, Arizona, Florida, Georgia, Louisiana, Oklahoma, Tennessee and Texas. "As a Northwest timber family, our roots are all here in the West," President Bill Pettit said. "Market conditions allowed us to sell these eastern regions and create a much broader acceptance of senior housing in the West." Even though Washington is a northern state, its seniors don't leave for warmer climates at the rate that retirees flee the Northeast and the Midwest, he said.
PS Business Parks, Inc. to Release First Quarter 2007 Earnings and ...
GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (AMEX:PSB) announced today that it intends to release its first quarter 2007 earnings after the close of business on Monday, April 30, 2007. A conference call is scheduled for Tuesday, May 1, 2007, at 10:00 a.m. (PDT) to discuss the first quarter results. The toll free number is 1-800-399-4409; the conference ID is 5422443. The call will also be available via a live webcast on the Company's website. A replay of the conference call will be available through May 8, 2007 at 1-800-642-1687, as well as via webcast on the Company's website. Company Information PS Business Parks, Inc., a member of the S&P SmallCap 600, is a self-advised and self-managed equity real estate investment trust ("REIT") that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space.
Zacks Analyst Interview Highlights: Four Seasons, Winston Hotels ...
CHICAGO--(BUSINESS WIRE)--Zacks.com releases the latest Analyst Interview. Today's interview is with senior analyst Sean P. Smith, who discusses Four Seasons (NYSE: FS), Winston Hotels (NYSE: WXH) and Starwood Hotels (NYSE: HOT). A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678. Among companies in your coverage, are any considered to be good buyout candidates? Well, we've actually already seen a couple that have received buyout offers and accepted – everything from large hotel chains such as Four Seasons (NYSE: FS) to smaller real estate investment trusts [REITs] such as Winston Hotels (NYSE: WXH). Currently, there is a lot of speculation on the Street concerning Starwood Hotels (NYSE: HOT) due to the recent departure of their CEO.
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